Topic: What about the idea of an inflationary bitcoin? - page 3. (Read 3131 times)

the miners are the ones that process all the transactions right? If there are no miners, then nobody is processing bitcoin transactions...thats what I mean't by securing the network...

And I am going to guess you are going to say that bitcoins are valuable because there are a finite amount of them? Does that change if there is a certain amount released every year that is a specific controlled amount every year? Is bitcoin not valuable to you now? Because that is exactly what is happening right now....bitcoin releases a certain amount every year to be mined...Does the 21mil amount really matter to you when that number takes effect 125yrs from now?

I think you should think first about why bitcoin is valuable. (Hint: It's not because bitcoin is being managed like fiat by central banks.) Then you should think again about your idea.

Also, you don't seem to understand some basic concepts: The network is secured even without mining.

ya.ya.yo!

Curious to see what people thought of this idea...

Instead of capping bitcoin at 21mil, what about the idea that after all the bitcoins were mined (we'll all be long dead), of releasing 1% of the current bitcoin total into the public for that year...meaning that the first year after all the bitcoins were mined, bitcoin would release 210,000 more bitcoins into the market at same intervals it is currently releasing BTC (every 10 min) and make them available for people to mine....

I see multiple pro's of a system like this....a few being....

-Bitcoins would continue to be mined and thus the network would be secure indefinitely
-Lost bitcoins would essentially be put back into the market and thus we would not be on a track to lose bitcoins in the system indefinitely
-Inflation would be just under 1% (bitcoins released minus the bitcoins that were lost in the system) which I think would be a solid stable economic number to promote responsible spending...

The 1% number could be adjusted to whatever you thought would be an appropriate amount....

And as always, constructive criticism is always welcome and in the end will make us all learn more at the end of the day, just please don't call me an 'idiot' or a 'moron' if you disagree with the idea, but i don't mind if you call my idea 'idiotic' or 'moronic', just as long as you state your case and the reason why you think that...

Fire away----